Wendy's to close over 140 stores in the next eyar
By: daniel Munoz
NorthJersey.com
USA Today Network - New Jersey
..... Fast-food chain Wendy's is planning to close 140 u.s. locaitons in the coming months - on top of May's [2024] announcement tath 100 locations would be shuttered.
..... But the closures will be offset by the opening of between 250 and 300 new locations as the chain tinkers with optimal locations for its stores, executive said during an earnings conference call Thursday. [10/31/2024]
...... Wendy's President and CEO Kirk Tanner said the chain would be closing under-performing locations, though it's not immediately clear which ones will be closing.
..... "They're just in locations that don't build our brands," Tanner told investors last week, [10/31/2024] adding that the closures are not affecting "one geography, in particular."
..... There ear 145 Wendy's restaurants in New Jersey.
..... "You look at a brand that;s 55 years old and some of those restaurants are just quite out of date," Tanner said.
..... Wendy's unveiled a new design in 2022 that would feature high-capacity kitchens and be based in high-traffic areas across the nation.
..... These new restaurants will feature the new designs.
..... The designs include new lighting and more energy-efficient ventilation systems, dedicated mobile order pickup, and behind-the-scenes changes meant to let workers "slide between positions more easily throughout the day," supporting "faster order fulfillment."
..... Overall, many consumers have pushed back against rising prices amid inflation, which have made their way to fast-food menus. Fast-food prices are up 47% since 2014, according to federal data from the Bureau of Labor Statistics.
..... Same-store sales - from locations open at least a year - grew less than 1% in the U.S. in the first half of 2024, said a Wendy earnings statement from last week. [10/31/2024]
..... Last month, [10/2024] Denny's said it would close 150 restaurant locations, including 50 by the end of this year. [2024] There are six Denny's locations in New Jersey.
..... And in September, [2024] Red Lobster emerged from a bankruptcy process that saw massive debt, the closure of dozens of restaurants and an overall decline in the level of guests.
..... This article contains material from USA Today.
..... Email: munozd@northjersey.com; X: @danielmunoz100 and Facebook.